State Street Corp Sells 55,227 Shares of Vericel Co. (NASDAQ:VCEL)

State Street Corp lessened its holdings in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,429,558 shares of the biotechnology company's stock after selling 55,227 shares during the quarter. State Street Corp owned 4.92% of Vericel worth $102,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Vericel by 1.0% in the third quarter. FMR LLC now owns 2,372,812 shares of the biotechnology company's stock valued at $100,251,000 after buying an additional 22,461 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Vericel by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,075,730 shares of the biotechnology company's stock worth $87,700,000 after purchasing an additional 34,360 shares during the period. Congress Asset Management Co. increased its holdings in Vericel by 37.4% during the 3rd quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company's stock worth $54,575,000 after purchasing an additional 351,550 shares in the last quarter. Geneva Capital Management LLC raised its stake in shares of Vericel by 61.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company's stock valued at $46,660,000 after purchasing an additional 420,078 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Vericel by 4.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company's stock valued at $45,590,000 after purchasing an additional 47,108 shares in the last quarter.

Insider Buying and Selling at Vericel

In related news, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total transaction of $235,361.55. Following the completion of the sale, the director now directly owns 11,000 shares of the company's stock, valued at approximately $443,850. This trade represents a 34.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of the business's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the sale, the chief executive officer now owns 220,937 shares of the company's stock, valued at $9,142,373.06. This trade represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,266 shares of company stock valued at $2,090,636 in the last quarter. 5.20% of the stock is currently owned by insiders.

Vericel Trading Down 1.8 %

Shares of Vericel stock traded down $1.01 during trading on Monday, hitting $56.46. 290,045 shares of the stock were exchanged, compared to its average volume of 425,749. Vericel Co. has a 1-year low of $32.31 and a 1-year high of $61.49. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 957.83 and a beta of 1.71. The company has a fifty day moving average price of $50.23 and a 200-day moving average price of $47.94.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Vericel had a return on equity of 1.48% and a net margin of 1.56%. The firm had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. Equities research analysts forecast that Vericel Co. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on VCEL. Stephens raised Vericel to a "strong-buy" rating in a research report on Monday, December 2nd. HC Wainwright reissued a "buy" rating and issued a $60.00 price objective on shares of Vericel in a research report on Friday, November 8th. StockNews.com downgraded shares of Vericel from a "hold" rating to a "sell" rating in a research report on Thursday. Canaccord Genuity Group reissued a "buy" rating and set a $60.00 price target on shares of Vericel in a research report on Tuesday, November 19th. Finally, TD Cowen raised their price objective on Vericel from $55.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vericel currently has an average rating of "Moderate Buy" and an average target price of $59.71.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.